Recently, a number of media articles have discussed the task facing financial institutions today – find opportunities growth in a challenging and flat economy. The majority of perspectives discuss the fact that lenders will soon have no choice but to look to the ‘fringe’, by lowering score cut-offs, adjusting acquisition strategies and introducing greater risk into their portfolios in order to grow. Risk and marketing departments are sure to be creating and analyzing credit risk models and assessing credit risk in new, untapped markets in order to achieve these objectives. While it may appear to be oversimplifying the task, many lenders have the opportunity to grow simply by understanding more about two groups of consumers that are already sitting in their offices (or application queues) today: applicants who are approved, but book elsewhere, and applicants that are declined. There are a number of analytic techniques that can be utilized to understand these populations further. Lenders can study the characteristics of other loans originated by these lost consumers, and can also perform analyses of how these consumers performed after booking competitive offers. By understanding the credit characteristics and account delinquency trends of its current applicants, lenders can uncover a wealth of information and insight about the growth opportunities sitting right before them.
Finding growth in your current applicants
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The electric vehicle (EV) revolution isn’t slowing down, it’s changing lanes. While recent conversations have seemingly focused on softening demand for new EVs, the used segment has been gaining momentum. According to Experian Automotive’s 2025 EV Year in Review Report, new retail individual EV registrations fell 35.9% year-over-year. Meanwhile, the used retail individual EV registrations grew 25.4% from a year ago. As affordability and growing model availability reshapes consumer behavior, buyers are increasingly turning to pre-owned EVs, which has shown an interesting market divergence that is redefining how consumers are adopting this segment and what it can mean for automakers, dealers, and the overall industry. Key players behind rising used EV demand Notably, Tesla accounted for over half (60.5%) of used retail individual EV registrations in 2025, followed by Chevrolet at 6.4% and Nissan (5.5%). Diving a bit deeper, Tesla made up the top three models of the used individual registrations last year, with the Model 3 coming in at 27.2%, Model Y at 21.7%, and Model S (6.6%). The Chevrolet Bolt EV followed at 4.8% and the Nissan Leaf was at 4%. Tesla’s position as the leading make in the used EV market is a natural extension of its long-standing dominance in new EV sales. The brand’s leadership over the years created a large fleet of vehicles that are now entering the pre-owned market. What the used EV boom means for automotive professionals The growing demand for used EVs can present more opportunities for automotive professionals. Dealers that provide a healthy supply of pre-owned EVs can increase accessibility and play a role in adoption for consumers who are actively looking to purchase, while marketers can emphasize value and ownership benefits. As the market continues to evolve, automotive professionals who understand and respond to these changing dynamics will be best positioned to capitalize on the expanding pool of used EV shoppers. To learn more about EV insights, visit Experian Automotive’s EV Resource Center.